In a densely built place like downtown Ottawa, room for new real estate development is practically impossible. Many of the new condominium buildings that are popping up around town are the result of a purchase-and-demolish practice that condo developers have to resort to because of the limited building space. The newest proposed condo building has […]
Throughout Canada, and even in Ottawa (where homebuyers are still getting outstanding deals compared to other cities in other provinces), there are signs that the bargain home prices may soon start a shift upwards. Now that the inventory is not as saturated as earlier in the year, and there are not as many homes to […]
Starting July 1, 2010 new homes will become subject to a 13 percent harmonized sales tax. Until now, these properties have been enjoying its exemption from provincial sales tax. The government has tried to balance out the negative reactions by coming up with a rebate of up to $24,000 – or 6 percent on new […]
The Rideau Street project, now in its third phase, which is being facilitated by Claridge Homes was a big hit last weekend as buyers lined to put down $5,000 in exchange for reserving a condo home. After an hour and an a half of the sales commencement, Claridge raised the prices by $10,000. The new […]
The year-on-year housing prices in Ottawa-Gatineau increased 0.7 percent in September. The improved housing market gave local builders the confidence to raise their prices, according to Statistics Canada. The Ottawa area was one of few to display continued growth, and also showed year-on-year increases along with a faster growth rate than other Canadian markets. Overall, […]
According to architect Norm Hoston, the Lansdowne Live redevelopment plan is not providing any added benefits to make up for the loss of public space. “It seems to me that if you are going to give up what has been for decades a major public place in the city, there has to be a tremendous […]
Housing sales in Ottawa increased 24.7 percent in October, solidifying the market’s status after the turbulence of last year’s economic situation. This shows in the 13.6 percent jump in home prices over last year, bringing the average sale price to $318,655. Condominiums had the most demand, followed by bungalows and two-storey single-family homes, with 1,202 […]
EcoCite, the developer responsible for the Bank Street condos that were never finished, is now the subject of an investigation by the Tarion Warranty Corp., a company that oversees Ontario’s Home Warranties Act. The condos, which are located across the street from Lansdowne Park, were not completed due to the developer’s major financial troubles. In […]
Many people that purchase condominiums like the lifestyle that it provides, versus buying a house. However, there is more than meets the eye with condo ownership. What are you really buying into when purchasing a condo? Bonnie Wegerich, president of the Calgary Real Estate Board says, “Purchasing this convenient condo lifestyle can be an inconvenient […]
Kemptville, a small town about 55km south of Ottawa, will be the new home to 136 condos built by the non-for-profit Options for Homes. The Toronto-based company plans to keep to its mission to sell standard homes at cost to those with low household incomes. The low-rise building project plans to construct the condos within […]
